IKE Lands NZ$19 million Contract for Southwest U.S. Utility Project

ikeGPS Group Limited (NZX: IKE) has secured a contract expected to generate approximately NZ$19 million in revenue over the next 36 months. This deal supports a multi-year fiber and grid resiliency program for a major utility in the southwestern United States.

The contract, commencing at the end of July 2024, marks a significant milestone towards IKE's goal of reaching EBITDA breakeven and sustaining high revenue growth. CEO Glenn Milnes emphasized that this expansion with a long-term partner reflects strong confidence in IKE’s technology, which enhances productivity in fiber build and grid resiliency projects. With over 3,000 utilities focusing on these areas across North America, IKE anticipates continued market growth for the next two to three decades.

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